See every side of every news story
Published loading...Updated

Bitcoin's Recent Drawdown Proves Its More Than Just a Leveraged Tech Play

  • On Wednesday, Bitcoin's price rallied, surpassing $83,500 after hovering in the $70,000s range, following key news.
  • President Trump's announcement of a 90-day pause on reciprocal tariffs for negotiating partners spurred market optimism.
  • The pause on tariffs, except for those on China , boosted tech stocks and crypto markets.
  • Analyst Merlijn noted Bitcoin traded in a falling wedge; analysts see resistance at $84,500 and a target of $88,000.
  • This policy shift injected optimism into risk assets like Bitcoin, which analysts say is showing resilience and maturity.
Insights by Ground AI
Does this summary seem wrong?

65 Articles

All
Left
3
Center
2
Right
1
Think freely.Subscribe and get full access to Ground NewsSubscriptions start at $9.99/yearSubscribe

Bias Distribution

  • 50% of the sources lean Left
50% Left
Factuality

To view factuality data please Upgrade to Premium

Ownership

To view ownership data please Upgrade to Vantage

decrypt.co broke the news in New York, United States on Wednesday, April 9, 2025.
Sources are mostly out of (0)

You have read out of your 5 free daily articles.

Join us as a member to unlock exclusive access to diverse content.